(CBN Global) April 25 -- The Shanghai-London Stock Connect will be launched in September, according to the Hong Kong Economic Journal, as part of government efforts to open up China's tightly controlled financial market.

Similar to the Shanghai-Hong Kong Stock Connect which has been operating since last November, the Shanghai-London Stock Connect is expected to allow British investors to trade Chinese shares listed in Shanghai.

It will also allow Chinese enterprises to be issued Global Depositary Receipts on the London Stock Exchange.